Panama Papers: Saudi Arabia King Sponsored Netanyahuâ€™s Campaign

Isaac Herzog, member of the Knesset and Chairman of the Israeli Labor party, revealed that Saudi king Salman bin Abdulaziz financed the election campaign of Israeli Prime Minister, Benjamin Netanyahu.

â€œIn March 2015, King Salman has deposited eighty million dollars to support Netanyahuâ€™s campaign via a Syrian-Spanish person named Mohamed Eyad Kayali. The money was deposited to a companyâ€™s account in British Virgin Islands owned by Teddy Sagi, an Israeli billionaire and businessman, who has allocated the money to fund the campaign Israeli Prime Minister Benjamin Netanyahuâ€, Herzog cited a leaked Panama Paper. Saudi Arabia

Middle East Leaders Among Top Investors in â€œPanama Papers Caseâ€

Around eleven million documents were leaked from one of the worldâ€™s most secretive companies, Panamanian law firm Mossack Fonseca as it worked for 40 years without suspicion. The leaked documents showed how Mossack Fonseca firm has helped clients launder money, dodge sanctions and evade tax.

The documents held by the Panama-based law firm Mossack Fonseca have been delivered to the German newspaper Sueddeutsche Zeitung, which then shared them with the International Consortium of Investigative Journalists. Later, around 107 media organisations in 78 countries have been analysing the documents. Among the media agencies are the BBC, Panorama and UK newspaper the Guardian. The BBC said that it does not know the identity of the source.

The documents show 12 current or former heads of state with at least 60 people linked to current or former world leaders in the data. It also contains secret offshore companies linked to the families and associates of Egyptâ€™s former president Hosni Mubarak, Libyaâ€™s former leader Muammar Gaddafi, Syriaâ€™s President Bashar al-Assad and Saudi Arabiaâ€™s king Salman.

Moreover, the documents include the Icelandic Prime Minister, Sigmundur Gunnlaugson, who had a hidden interest related to his wifeâ€™s wealth and is now facing calls for his resignation. The files also unveiled suspected money laundering ring with billion dollars involving close associates of Russian President Vladimir Putin.

The documents also show how the company offered financial assistances and services how it helped business clients hide their wealth or to do illegal many transactions.